Owens Corning (OC) FY2013 results: revenue $5.3 billion, up 2.4% on the year
Owens Corning (OC) reported revenue of $5.3 billion for fiscal 2013, the year ended 31 December 2013, up 2.4% on the year before. Net income was $204 million, and diluted earnings per share $1.71. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2015.
Revenue
$5.3 billion
+2.4% on the year
FY2008FY2013
Operating margin
7.3%
2.9% a year earlier
FY2008FY2013
Net income
$204 million
FY2008FY2013
Diluted EPS
$1.71
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
5,295
5,172
5,335
+2.4%
Cost of revenue
4,329
4,375
4,307
-1.1%
Gross profit
966
797
1,028
+21.2%
Gross margin
18.2%
15.4%
19.3%
Research and development
77.0
79.0
77.0
-2.5%
Operating income
385
148
461
+160.1%
Operating margin
7.3%
2.9%
8.6%
Interest expense
112
114
108
-1.8%
Pre-tax income
273
-40.0
353
Income tax
68.0
-28.0
74.0
Effective tax rate
24.9%
n/a
21.0%
Net income
204
-19.0
276
Net margin
3.9%
-0.4%
5.2%
Diluted EPS
$1.71
-$0.16
$2.23
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
383
330
289
+16.1%
Capital expenditure
353
332
442
+6.3%
Free cash flow
30.0
-2.0
-153
Free cash flow margin
0.6%
-0.0%
-2.9%
Cash from investing
-283
-253
-445
Cash from financing
-96.0
-76.0
174
Depreciation and amortisation
332
349
318
-4.9%
Share-based compensation
28.0
24.0
21.0
+16.7%
Buybacks
63.0
113
138
-44.2%
Dividends paid
0.0
0.0
n/a
Dividend per share
$0.00
$0.00
n/a
Diluted shares, weighted
119m
119m
124m
-0.3%
Shares outstanding at period end
118m
118m
121m
-0.4%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
3,793
3,538
3,701
+7.2%
Non-controlling interest
37.0
37.0
40.0
0.0%
Short-term borrowings
1.0
5.0
n/a
-80.0%
Debt
2,027
2,080
1,962
-2.5%
Other liabilities
1,789
1,908
1,824
-6.2%
Total liabilities and equity
7,647
7,568
7,527
+1.0%
Fixed assets
2,932
2,903
2,904
+1.0%
Goodwill
1,166
n/a
n/a
Intangible assets
1,040
1,045
1,073
-0.5%
Cash and equivalents
57.0
57.0
52.0
0.0%
Receivables
683
600
610
+13.8%
Inventory
810
786
795
+3.1%
Other assets
959
2,177
2,093
-55.9%
Total assets
7,647
7,568
7,527
+1.0%
10-K for the year ended 31 December 2013, filed 11 February 2015: the filing.